May be involved in regulation of cell cycle. H2O + O-phospho-L-seryl-[protein] = L-seryl-[protein] + phosphate H2O + O-phospho-L-threonyl-[protein] = L-threonyl-[protein] + phosphate Binds 2 magnesium or manganese ions per subunit. Interacts with NOL3; may dephosphorylate NOL3. Highly expressed in testis. Low level of expression in kidney. Also expressed in a number of tissues undergoing proliferation including embryo, uterus at pregnancy, placenta, and ovaries. By FGF-4 and serum. Belongs to the PP2C family.