Step 1: Read the question.
We must state the correct composition of a Disciplinary Committee of a Bar Council under Section 9(1) of the Advocates Act, 1961.
Step 2: Know the purpose.
Section 9 lets the Bar Council form Disciplinary Committees. These committees decide cases of professional misconduct against advocates.
Step 3: Learn the composition.
Every such committee has three persons. Two members are elected from among the members of the Bar Council. One member is co-opted from advocates who have the prescribed qualifications and who are not members of the Council.
Step 4: Understand the co-opted member.
The co-opted member brings independent professional skill. This keeps the proceedings fair and objective.
Step 5: Check the options.
The options stating five members are wrong. The option saying three members all elected with the junior as chairman is wrong. Only the option with two elected plus one qualified co-opted advocate is correct.
Step 6: Final answer.
So the committee is two elected members and one qualified co-opted advocate who is not a member of the Council.
\[ \boxed{\text{Three members - two elected from the Council's membership and one co-opted advocate possessing the prescribed qualifications, who is not a member of the Council.}} \]