Does Beer Still Mature While Cold Conditioning?

[dirty mac]

Hey, just a quick one.
When I put my lagers in secondary then to CC, is the beer still "maturing" at that temp (2C) or is the yeast just dropping out to make the brew clearer?

DM.

 

[tangent]

cold conditioning is maturing at a low temp

 

[Tony M]

I drink my lagers pretty "green" because I never seem to catch up. The difference in a chilled keg at the start of drinking and two weeks later at the end of it is quite noticeable. A lot of the grassiness of the postboil hops disappears and the palate generally smooths out. In many respects I like the early beers rather than the later ones but I have no idea how to freeze a moment in time.