Step 1: Identify the outputs of the NAND gates.
From the circuit, the upper NAND gate gives
\[
\overline{AB}.
\]
The lower NAND gate gives
\[
\overline{BC}.
\]
Also, the upper and lower side gates act as inverters, giving
\[
\overline{A}
\]
and
\[
\overline{C}.
\]
Step 2: Combine the middle outputs.
The outputs
\[
\overline{AB}
\]
and
\[
\overline{BC}
\]
are fed into an OR gate.
Therefore, the middle output is
\[
\overline{AB}+\overline{BC}.
\]
Using De Morgan's law,
\[
\overline{AB}=\overline{A}+\overline{B}
\]
and
\[
\overline{BC}=\overline{B}+\overline{C}.
\]
So,
\[
\overline{AB}+\overline{BC}
=
(\overline{A}+\overline{B})+(\overline{B}+\overline{C}).
\]
\[
=
\overline{A}+\overline{B}+\overline{C}.
\]
Step 3: Final output.
The final OR gate combines the available outputs, so the final output remains
\[
Y=\overline{A}+\overline{B}+\overline{C}.
\]
Step 4: Final conclusion.
Therefore,
\[
\boxed{Y=\overline{A}+\overline{B}+\overline{C}}
\]
Hence, the correct option is
\[
\boxed{(3)}
\]