Step 1: Differentiate \( y \) with respect to \( x \).
We start by finding \( \frac{dy}{dx} \) and then differentiate again to find \( \frac{d^2y}{dx^2} \). Using the chain rule and applying the given relations, we get the desired result \( \frac{-b}{a^2} \sec^3 \theta \).
Thus, the correct answer is (2).