In the editor, if you untick the extinct option on a competition will it carry on as normal from when you start a new game?

In the editor, if you untick the extinct option on a competition will it carry on as normal from when you start a new game?
E.G. Intercontinental Cup

You will need to add rules to it, dates of when the competition runs and also what teams are involved. If you do that then the competition should run.