Protein phosphatase which antagonizes mitotic cyclin-dependent kinase CDC28, the inactivation of which is essential for exit from mitosis. To access its substrates, is released from nucleolar sequestration during mitosis. Plays an essential in coordinating the nuclear division cycle with cytokinesis through the cytokinesis checkpoint. Involved in chromosome segregation, where it is required for meiosis I spindle dissambly as well as for establishing two consecutive chromosome segregation phases. Plays a role in the expression of hydrolase genes such as CHT3 and ENG1 involved in septum degradation after cytokinesis. Also required for ACE2 localization to the daughter nucleus. Required for invasive and hyphal growth