difference between shared parenting and shared residency?

[wyenow]

Please can someone explain to me what the difference is between shared parenting and shared residency? Are they the same?

No
Shared residency, children live 50/50 with both parent.
Shared parenting, joint decisions re children eg, which school they attended

In a nutshell Parental Responsibility gives both parents equal "responsibilities rights, duties, powers, responsibilities and authority which by law a parent of a child has in relation to the child and his property."- Children Act 1989

Shared parenting means parents share the decisions and parent together. Residence determines where a child lives and shared residence is when children "live" in two homes. Shared residence doesn't have to be equal time 50:50, it can be in different proportions.